EMS claims to have a $1,500 billion order book and will concentrate on government contracts
sewage treatment services According to EMS Limited, which has an order book worth about Rs 1,500 crore, it would concentrate on getting additional government contracts that are backed by international finance organizations like the World Bank. EMS submitted draft documents to Sebi in March in order to raise money via an IPO. The IPO comprises an additional 180 crore rupees worth of equity shares as well as founder Ramveer Singh’s offer to sell 82.94 lakh shares.
The firm will utilize the issue’s proceeds to fund its operating capital needs.
Nearly all of EMS Ltd’s initiatives, according to managing director Ashish Tomar, are financed by the World Bank through regional state government agencies.
The National Mission for Clean Ganga, the Jal Jeevan Mission, and the Community Drinking Water Scheme are just a few of the programs that the government is anticipated to continue supporting, according to the company, which added that this will result in a larger order pipeline for regional and international companies operating in these specialized industries.
“In the past, we finished more than 50 projects, and at the moment, we are working on 13 ongoing projects, which together make up an order book of Rs 1,389.09 crore…In addition to this, we are working on five operations and maintenance projects totaling Rs 99.28 crore in Rajasthan, Uttar Pradesh, Himachal Pradesh, Bihar, Mumbai, and Uttarakhand, according to Tomar.
The business may explore a pre-IPO placement of up to Rs 60 crore, per the draft documents submitted with Sebi in March of this year. If such a placement occurs, the number of equity shares from the issuance would be decreased. The new issue’s proceeds will be used for working capital needs and other general company objectives, according to the statement.
The share would be listed on the BSE and NSE when the IPO is finished, according to EMS.
The firm works with government bodies to complete projects for water supply schemes, water delivery systems, water and waste treatment facilities, and other related services.
